Prudence in accounting is a corner-stone concept which has shaped accounting theory, as well as ordinary financial reporting, sometimes in obscure and perverse ways. The qualitative nature of our contribution is apparent in the critical analysis of the degree of conservatism as a fundamental...

The objective of this study is to understand the managerial incentives that could influence Singapore-listed firm?s decision to take discretionary accruals, and to classify gains and losses as normal operating or extraordinary items, during the period 1997 to 1999. Both cross-sectional and...